HOUSE OF REPRESENTATIVES	H.B. NO.	793
TWENTY-SIXTH LEGISLATURE, 2011
STATE OF HAWAII

A BILL FOR AN ACT

RELATING TO TAXATION.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF HAWAII:

     SECTION 1.  The purpose of this Act is to delay the standard deduction and personal exemption increases approved under Act 60, Session Laws of Hawaii 2009, but to make the increases permanent.

     SECTION 2.  Act 60, Session Laws of Hawaii 2009, is amended by amending section 6 to read as follows:

     "SECTION 6.  This Act shall take effect upon approval, provided that:

     (1)  Section 2 shall apply to taxable years beginning after December 31, 2008;

     (2)  Sections 1 and 3 shall apply to taxable years beginning after December 31, [2010;] 2012; and

     (3)  On December 31, 2015, [this Act] section 2 shall be repealed and [sections 235-2.4(a),] section 235-51(a), (b), and (c), [and 235-54(a),] Hawaii Revised Statutes, shall be reenacted in the form in which [they] it read on the day before the effective date of this Act."

     SECTION 3.  Statutory material to be repealed is bracketed and stricken.  New statutory material is underscored.

     SECTION 4.  This Act shall take effect upon its approval.

INTRODUCED BY:

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Report Title:

Standard Deduction, Personal Exemption Increase, Delay

Description:

Delays the standard deduction and personal exemption increases of Act 60, Session Laws of Hawaii 2009, but makes them permanent.

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